Pinebridge Investments L.P. decreased its holdings in shares of First Financial Bancorp (NASDAQ:FFBC) by 15.7% in the 4th quarter, Holdings Channel reports. The fund owned 106,524 shares of the bank’s stock after selling 19,903 shares during the quarter. Pinebridge Investments L.P.’s holdings in First Financial Bancorp were worth $2,807,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of First Financial Bancorp during the 3rd quarter valued at $125,000. Ameritas Investment Partners Inc. raised its position in shares of First Financial Bancorp by 6.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,410 shares of the bank’s stock valued at $150,000 after acquiring an additional 349 shares during the last quarter. FDx Advisors Inc. bought a new stake in shares of First Financial Bancorp during the 3rd quarter valued at $205,000. Bedel Financial Consulting Inc. bought a new stake in shares of First Financial Bancorp during the 4th quarter valued at $249,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of First Financial Bancorp during the 3rd quarter valued at $250,000. Institutional investors own 78.06% of the company’s stock.
Shares of First Financial Bancorp (FFBC) opened at $28.85 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.91. First Financial Bancorp has a 1 year low of $22.80 and a 1 year high of $29.50. The company has a market cap of $1,790.43, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.37 and a beta of 1.19.
First Financial Bancorp (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, January 18th. The bank reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. First Financial Bancorp had a net margin of 26.11% and a return on equity of 11.51%. The business had revenue of $94.00 million during the quarter, compared to analysts’ expectations of $90.05 million. During the same quarter in the prior year, the company earned $0.38 EPS. research analysts expect that First Financial Bancorp will post 2.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.63%. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.17. First Financial Bancorp’s dividend payout ratio is currently 42.50%.
Several brokerages have commented on FFBC. FIG Partners upgraded shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 target price for the company in a research report on Friday, February 9th. BidaskClub upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Hilliard Lyons upgraded shares of First Financial Bancorp from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Monday, January 22nd. Barclays upped their target price on shares of First Financial Bancorp from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. First Financial Bancorp currently has an average rating of “Buy” and an average target price of $29.90.
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First Financial Bancorp Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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